Hi Guy’s
Just looking for people’s opinions on this.
Back in 2004 I took out a variable mortgage with AIB for around 130,000 euro, then in 2006 I took a second mortgage from AIB for 110,000 euro first 3 years were interest only.
I took an extra 15,000 on the first mortgage which brought it up to around 145,000 and changed into a tracker mortgage, I think the rate is +.95%
The second mortgage is currently fixed for 5 years at around 6% (can’t remember the exact rate) I think higher than usual because it is an investment mortgage, since last April.
Currently on the tracker mortgage I have 120,000 euro left, and on the investment one about 100,000.
As they are supposedly losing money on these trackers and would like to get people of them. The question I have is if I went to AIB and said I want a deal to pay of my tracker mortgage completely what would be a fair offer.
I was thinking between 80,000 – 90,000, closer to 80,000.
If I paid on average of 600 a month by 96 months (8 years so far) = 57,600 + 80,000 = 137,600.
They would be down about 7,000 from the total of 145,000 I don’t know over the lifetime of the tracker would they lose more than that but if I keep going with the investment mortgage they would more than make up for it.
Just looking for people’s opinions on this.
Back in 2004 I took out a variable mortgage with AIB for around 130,000 euro, then in 2006 I took a second mortgage from AIB for 110,000 euro first 3 years were interest only.
I took an extra 15,000 on the first mortgage which brought it up to around 145,000 and changed into a tracker mortgage, I think the rate is +.95%
The second mortgage is currently fixed for 5 years at around 6% (can’t remember the exact rate) I think higher than usual because it is an investment mortgage, since last April.
Currently on the tracker mortgage I have 120,000 euro left, and on the investment one about 100,000.
As they are supposedly losing money on these trackers and would like to get people of them. The question I have is if I went to AIB and said I want a deal to pay of my tracker mortgage completely what would be a fair offer.
I was thinking between 80,000 – 90,000, closer to 80,000.
If I paid on average of 600 a month by 96 months (8 years so far) = 57,600 + 80,000 = 137,600.
They would be down about 7,000 from the total of 145,000 I don’t know over the lifetime of the tracker would they lose more than that but if I keep going with the investment mortgage they would more than make up for it.